BURGESS NEW VENTURE CHALLENGE

Introducing the Burgess New Venture Challenge, bringing Michigan State University student entrepreneurs a new partnership and amplified investment.

Our Mission

The Burgess New Venture Challenge is Michigan State University’s premier student entrepreneurial showcase. The program represents best-in-class experiential learning, focused on innovation, business planning, and taking proactive initiative. Our goal is to empower the entrepreneurial mindset and create lasting impact with our students as they transition to their careers in the global marketplace.

Awards and Prizes

The total purse for the event is $42,000, which is divided over the top five ventures. As well, two People’s Choice Awards will be granted.

Awards are granted to the winning teams in tranches based on milestones and in the form of scholarships that are refunded to the students as long as they do not have any outstanding balances (tuition, tickets, etc.) with the University.

Key Dates & Judging Process

Phase 1: Intent to Compete

Due by January 16, 2019:
The first phase of the challenge requires the completion of an Intent to Compete form, which provides a summary of the business idea or concept. Applicants will be asked to answer questions related to the following aspects of the business or idea:

• What opportunity or problem are you addressing?
• What is your proposed product/service and how does it address the opportunity/problem?
• Who wants your solution? How large and/or valuable is the potential market?
• How do you make (or plan to make) money?
• What costs are associated with your business or launching your idea?
• Who is on your team? Why are you/they qualified to do this?

All applications will be reviewed for completeness, accuracy, and clarity of the above outlined criteria.

After completing an Intent to Compete, applicants must attend five (5) workshops, which are offered on a monthly basis. Students can attend these workshops in any order they wish.

Workshops are all held in the 300 Room located at 325 E. Grand River Ave., East Lansing, MI 48823, from 12–1pm. You can register for these at eship.msu.edu/calendar.

Business Model & Value Proposition Canvases: October 1, November 5, January 9
Go-to-Market & Pitch Decks: October 8, November 7, January 14
Financial Modeling: October 15, November 12, January 16
Business Planning: October 22, November 26, January 23
Legal: October 29, November 26, January 30

Phase 2: Business Plan Development

Final Business Plan Due by March 10, 2019:
In Phase 2 applicants will be tasked with preparing a professional business plan for their company or idea.

Teams that choose to participate will be supported in numerous ways to ensure the production of a high-quality plan is in this process.

Mentorship Meetup: January 30, 2019, 5:30-7:30pm in The Hatch and The 300 Room at 325 E. Grand River, East Lansing. Applicants will participate in an Mentor Meetup to develop relationships with experienced professionals with in-depth business planning and development experience. These mentors will serve as a sounding board for participants’ plan development.

Applicants will also receive complimentary access to LivePlan business planning software.

Plans will be due via upload to Submittable by 11:59pm, March 10, 2019.

Phase 3: Judging & Showcase Final

Event Date: April 17, 2019
Judging Process: Upon receipt of completed and qualifying business plans, each plan will be distributed to a network of seasoned judges who will score according to strengths and weaknesses. Applicants will receive written feedback for areas of improvement. Judges’ scores will be compiled and the top fifteen (15) applicants will be notified by April 1, 2019 of their acceptance to the Showcase Finale.

Showcase Finale (April 17, 2019):
Unlike traditional business plan competitions, the Burgess New Venture Challenge does not require a live pitch presentation to a large audience. Instead, finalists will attend a “tradeshow format” event, during which each team will have a display area for marketing material and will actively network with the audience, including judges, to share their vision and goals for their business ventures or ideas.

During this event each team will be given 7 minutes with our judges in a separate location. In this closed session, challenge participants will be expected to answer questions regarding their proposed ideas and present any additional materials they feel support their case.

If you would like to meet with one of our staff to kick around ideas, seek guidance, consultation, support or just to have a shoulder to cry on, please call us
(517) 353-0644 or fill out the contact form.